Possible level/area to short AUDUSD.
A possible immediate resistance at 0.77210 level but we are more interested at area for Sell Setup 1 and Sell Setup level 2.
Risk will defend in your appetite. In my case i will execute my trades, one at Sell Setup 1 with tight stoploss and the other at Sell Level 2 with stoploss above 0.78971 level.
I have to make sure in taking these trades that my 3% risk of overall port value will equate the same or less value to 3% risk overall.
If the price will not reach to these levels? -i don't have a trade.
Caveat.
A possible immediate resistance at 0.77210 level but we are more interested at area for Sell Setup 1 and Sell Setup level 2.
Risk will defend in your appetite. In my case i will execute my trades, one at Sell Setup 1 with tight stoploss and the other at Sell Level 2 with stoploss above 0.78971 level.
I have to make sure in taking these trades that my 3% risk of overall port value will equate the same or less value to 3% risk overall.
If the price will not reach to these levels? -i don't have a trade.
Caveat.
sorry for that :)